AgriBusiness Funding Round Precision Ag Smart Farming

Agurotech Banks 1.5M Euros From Navus Ventures & ROM InWest

Agurotech funding round agtech

Agurotech’s recent investment of €1.5 million from Navus Ventures and ROM InWest significantly boosts the company’s mission to create a more sustainable global food system. The Amsterdam-based high-tech firm is focused on data-driven arable farming, providing farmers with insights and real-time data to help them use resources more efficiently. With the investment, Agurotech can take the next step in expanding its reach and impact in the agricultural sector.

“We have demonstrated that we can increase crop yield by using resources more effectively. This also positively impacts sustainability,” says Joelle van den Brand on the companies announcement. “Not only in the Netherlands or Europe, but worldwide. Thanks to this investment, we can further scale and expand our company. We expect to grow over the next five years and achieve international market leadership in key segments.”

The company’s business model is centered around precision farming technology, which aims to make agriculture more sustainable and better prepared for the effects of climate change. By working with agricultural organizations, farmers, universities, scientists, and local governments in six EU countries most affected by climate change, Agurotech will be able to expand its reach and significantly impact the agricultural sector. The investment will also allow the company to enter international markets, further advancing its goal of creating a more sustainable global food system.

Precision Agriculture & The New Threats It Exposes

As precision farming technology continues to develop and evolve, it brings new cybersecurity threats. The increasing use of internet-connected devices, such as sensors and drones, increases the risk of cyber-attacks and data breaches. Cybercriminals may attempt to access and manipulate data to disrupt crop production, steal sensitive information, or cause physical damage to the equipment. Additionally, as precision farming technology relies heavily on data analytics and cloud computing, there is a risk of data breaches and cyber-attacks on the systems that store and process this data. Therefore, it is crucial for precision farming companies to prioritize cybersecurity measures to protect against these threats and ensure the safety and security of the agricultural industry. This may include implementing robust encryption protocols, regular security updates, and educating farmers and employees on cybersecurity best practices.

Recent examples illustrate this threat as Dole has to shut down its operations temporarily because of a hack, another example is the ransomware attack in 2021 on beef processing plants in the US that forced them to shut down. The risk has gotten so important that the FBI issued a warning in April 2022 regarding potential ransomware attacks to high-tech facilities. 

Image provided by Agurotech

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